DuPont to sell $4B auto paint business?

Jonathon Ramsey — Thu, 03 Nov 2011 08:01:00 EST

Filed under: Plants/Manufacturing, Earnings/Financials

Even though DuPont's automotive paints, or "performance coating," division brought in 12.1 percent of the firm's 2010 revenue, the pretax operating-profit margin was only seven percent, said to be about "half the corporate average." With the highly diversified firm making plays in more lucrative "megatrend" areas, Automotive News reports that DuPont has retained Credit Suisse to find a buyer for its two coatings divisions valued at $3-4 billion.

An analyst has said selling the units will improve the portfolio, but the question is what other company will have the will (and the financial wherewithal) to take them. DuPont says it wants to up the division's profit margins to ten percent in 2012, but with automakers still hammering supplier prices, it will take some healthy productivity engineering to make that happen. Credit Suisse hasn't begun the sale process yet, but a buyer could be sought among the other three large auto-coatings companies, PPG, BASF and Arko Nobel.

DuPont to sell $4B auto paint business? originally appeared on Autoblog on Thu, 03 Nov 2011 08:01:00 EST. Please see our terms for use of feeds.

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Jay Leno's bio-diesel turbine supercar isn't a joke

Mike Magda — Tue, 31 Oct 2006 04:10:00 EST

Filed under: Aftermarket, Concept Cars, SEMA Show, Etc., Green, Supercars, GM

UPDATE: Live shots from SEMA show floor added after jump

Jay Leno may have made fun of corn farmers and the Toyota Prius, but he unveiled a stunning mid-engine supercar that is environmentally friendly and hopefully an inspiration to young car enthusiasts. The covers were pulled off Leno's EcoJet on Monday at a late-night ceremony in the Wynn's Hotel in Las Vegas where the car will be displayed at the SEMA Show.

"I drive it, wait for the harvest, get some corn and drive it some more," quipped Leno, who told Autoblog that he is also converting his shop to solar power in an effort to be more environmentally conscious.

Leno said he originally wanted a hydrogen fuel cell vehicle but time constraints killed that idea. Bio-diesel was the backup plan, so Leno sought out a 650-horsepower Honeywell LT-101 turbine engine, mated to a Corvette automatic transaxle. Much of the vehicle platform is based on the C6 Corvette, including a special aluminum frame, brakes and suspension components. What was the targeted top speed for the 2,400-pound car? "How much fun can you have with it," answered Leno, noting the exhaust sounds like "a jet engine taking off."

Designer from the GM Advanced Design Studio worked with sketches Leno originally made on a napkin. Leno said there were no constraints placed on the design, like where the golf clubs would go. The idea was built to be a fast, fun vehicle with design cues pulled from Formula 1 and various aircraft. Perhaps the most eye-catching and innovative design elements are the turbine-inspired, Alcoa-built wheels (20x10 front, 22x12 rear) and the massive exhaust slots -- one for each side of the engine. The water-born paint is from BASF and the interior isn't finished, but Leno promises it will be "cruelty free," so Pam Anderson of PETA fame will take a drive with him.

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Jay Leno's bio-diesel turbine supercar isn't a joke originally appeared on Autoblog on Tue, 31 Oct 2006 04:10:00 EST. Please see our terms for use of feeds.

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